The Bank of Russia unexpectedly maintained its key interest rate at a record-high 21% , defying analysts’ expectations of another significant hike as inflation remains stubbornly elevated. The decision marks a shift toward a more measured approach in balancing economic growth and price stability. Key Details Inflation Concerns: Annual inflation climbed to 8.9% in November, well above the central bank’s 4% target , with inflation expectations reaching 13.9% in December. Policy Rationale: The central bank cited the significant tightening of monetary conditions after October’s 200-basis point hike as sufficient to resume disinflationary processes. Governor Elvira Nabiullina emphasized avoiding both economic overheating and severe slowdowns. Economic Overheating: Elevated government spending on the war in Ukraine and social programs, coupled with labor shortages and rising wages, have fueled strong domestic demand, exacerbating price pressures...
Microsoft Corp is investigating outages affecting some of its Office applications and cloud services.
“We are investigating reports of issues connecting to Microsoft services globally,” Microsoft wrote in an update on its Azure cloud services monitoring site on Tuesday. The issue impacts multiple Microsoft 365 services and features, including popular productivity applications like Outlook, Word, and Excel.
Users may be unable to access the apps or experience degraded connection or performance, according to a message to customers seen by Bloomberg. Reports of outages on Azure and Microsoft 365 began to spike shortly after 7 am New York time, with hundreds of complaints recorded by 9:40 am, according to Downdetector.
Earlier this month, a flawed software update from cybersecurity firm CrowdStrike Holdings Inc caused eight million Windows operating system computers to crash. Microsoft is also dealing with the aftermath of a series of cyberattacks, prompting the US government to call for company-wide changes.
Microsoft is scheduled to report earnings on Tuesday afternoon, with investors eager for signs of monetization from its artificial intelligence investments.
Key Takeaways:
- Outage Impact: Microsoft is investigating outages affecting Office applications and cloud services.
- Affected Services: The outage impacts multiple Microsoft 365 services, including Outlook, Word, and Excel.
- User Reports: Hundreds of outage reports were logged shortly after 7 am New York time.
- Recent Issues: The outage follows a flawed software update from CrowdStrike and cyberattacks prompting a US government report.
- Earnings Report: Microsoft is set to report earnings, with a focus on monetizing its AI investments.
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